Surveys can be essential when deciding to purchase a property, as they reveal any potential issues or problems that may need attention. A survey conducted by Royal Institution of Chartered Surveyors (RICS) will provide an in-depth analysis of the condition of the building, garage and outbuildings.

This type of home survey gives a ‘traffic light’ rating to each different element of the property, by using this traffic light system will rate the condition of each part of the property. This will help determine what if any, repair work needs to be done and how much it may cost.

It is possible to negotiate a lower price or get the seller to fix any issues found in the survey before completion. Research conducted by Which? revealed that two-thirds of homeowners were successfully able to do this in 2016.

Your options after finding issues on your building survey or homebuyers report

If you opt for a full structural survey or a homebuyers survey, which is a more detailed report rather than a basic survey, to assess the condition of the property, this will cost you more but it may benefit you a lot more than you think if hidden issues are discovered. You may incur unexpected repair costs if structural problems are found.

Your alternative options are:

• Ask the vendor if they’re willing to fix the problems before selling
• Use the survey results to haggle the price down to cover all or some of the costs
• Proceed with the transaction with an indication of how much extra money you’ll need to spend on the property when the sale is complete
• Pull out of the sale

If the survey reveals a problem that needs attention or repair, it is important to speak with a builder or specialist tradesperson to get an understanding of what the repairs will cost before making any decisions on whether to proceed with the purchase.

What to do after your house survey takes place

It may be beneficial to ask for a breakdown of costs from the builder or tradesperson to help in negotiations. This will give you a better idea of how much each repair may cost and can be used when discussing the price with the vendor or making an offer on the property.

If you think the seller should pay any repair costs then speak to your conveyancing solicitor to see if this is possible. Sometimes the costs will fall to the buyer, but this can be negotiated within the purchase price with the seller if they choose to reduce the property price

Ultimately, being aware of any survey issues before purchasing a property can help you make informed decisions and ensure that you are not left out of pocket after purchase. You need to be aware of any issues that could cost you a lot more money than you originally budgeted for so that you can make the right decision for yourself.

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If the property is more than 50 years old, it won't be unusual to see some issues on your building survey. Even if some issues are minor and don't take a lot to put right, the surveyor still has to highlight them in their report.

If you're wondering how much a house survey costs and the type of problems a survey uncovers then an estate agent or a mortgage adviser will be able to help with this. A standard property valuation may uncover some minor issues whilst a home buyers survey will conduct further investigation into the condition of the property as this is a more comprehensive report.

A standard valuation survey done by the mortgage provider will be free or will cost a small fee. A homebuyers survey will cost extra as this is a more detailed inspection of the building and will look at every aspect of the property. The property surveyor will assess the property's condition and the costs involved to fix them.

New build property report

If you are interested in purchasing a new build home, a survey will also be carried out on the property. A new build snagging survey will go out to assess the property's condition and to make sure the house is in a highly reasonable condition before you get the keys. Once you have received a copy of the snagging report you should create a snag list which is a list of each thing you deem to be in poor condition in/on the property.

If you have any questions regarding property surveys when applying for a mortgage, contact us at 0151 662 0188 or email [email protected]